Dec 22 , 2024
Hijra Bank has netted 100 million Br in the ended year, marking a 331pc year-over-year increase. The Bank's total assets grew by 32pc to 8.18 billion Br, and paid-up capital rose by 17pc to 1.5 billion Br. The Bank's 29.72pc growth in deposits and 75pc expansion of its customer base were also presented to shareholders. Total operating income surged by 67pc to 708 million Br, while expenses also rose to 615 million Br. Personnel expenses covered 61pc of the total, growing by 68pc. The Bank’s deposit base expanded by 30pc to 6.3 billion Br. Financing—loans and advances—reached 3.39 billion Br, an increase of 13pc. Hijra Bank expanded its branch network by over 40pc, from 71 to 100 branches nationwide as well as its customer base by 75pc to serve over 550,000 account holders. “We aim to raise our capital to five billion Birr by the end of the next fiscal year,” stated Board Chairperson Abduselam Kemal. Acting President Dawit Keno stated that Hijra Bank remained committed to high-quality, Sharia-compliant financial services. The introduction of new Sharia-compliant products, including the HalalPay mobile wallet, and digital platform enhancements, have been crucial to this growth, according to him.
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